Updated: May 22, 2026 7:33:02 am IST
US-Iran war live: Pictures of Ahmadreza and Javad, two Minab school students who were killed in an attack on February 28, are displayed in Minab, Iran, May 21, 2026.
US-Iran war live: Iran’s ISNA news agency reported that the United States and Iran are engaged in indirect talks aimed at developing a framework for a possible agreement. According to the report, both sides are currently exchanging messages and draft texts. An Iranian official previously told Al Jazeera that negotiators were “very close” to reaching an understanding.
The report also said that intensive mediation efforts are underway, with Mohsin Naqvi currently in Iran to discuss the situation in the Strait of Hormuz.
However, Al Jazeera said it was still too early to determine whether a final agreement was within reach.
The talks have reached a critical juncture as the US has scrapped most of its inventory of advanced missile defense interceptors after burning the candle at both ends to protect Israel by using more munitions than Israel in its war with Iran, The Washington Post has learned.
Oil prices increased
Oil prices climbed on Friday as investors doubted the prospects for a breakthrough in US-Iran peace talks, with the two sides still at odds over control of Tehran’s uranium reserves and the Strait of Hormuz. However, the market continued to post weekly losses.
A senior Iranian source told Reuters no deal had been reached with the US but the gap had narrowed, while US Secretary of State Marco Rubio said there had been “some good signs” in the talks but that any toll system in the strait would be unacceptable.
Brent crude futures were up $2.38, or 2.3%, at $104.96 a barrel by 0034 GMT, and US West Texas Intermediate futures were up $1.73, or 1.8%, at $98.08.
Both benchmarks fell about 2% on Thursday to close at their lowest levels in nearly two weeks.
…read more
The report also said that intensive mediation efforts are underway, with Mohsin Naqvi currently in Iran to discuss the situation in the Strait of Hormuz.
However, Al Jazeera said it was still too early to determine whether a final agreement was within reach.
The talks have reached a critical juncture as the US has scrapped most of its inventory of advanced missile defense interceptors after burning the candle at both ends to protect Israel by using more munitions than Israel in its war with Iran, The Washington Post has learned.
Oil prices increased
Oil prices climbed on Friday as investors doubted the prospects for a breakthrough in US-Iran peace talks, with the two sides still at odds over control of Tehran’s uranium reserves and the Strait of Hormuz. However, the market continued to post weekly losses.
A senior Iranian source told Reuters no deal had been reached with the US but the gap had narrowed, while US Secretary of State Marco Rubio said there had been “some good signs” in the talks but that any toll system in the strait would be unacceptable.
Brent crude futures were up $2.38, or 2.3%, at $104.96 a barrel by 0034 GMT, and US West Texas Intermediate futures were up $1.73, or 1.8%, at $98.08.
Both benchmarks fell about 2% on Thursday to close at their lowest levels in nearly two weeks.
Follow all updates here:
May 22, 2026 7:33:01 am First
US-Iran war LIVE: Stocks rise, dollar at six-week high, focus remains on US-Iran talks
Asian shares rose on Friday, while the US dollar hit a six-week high and oil prices fell as investors hoped for a breakthrough in US-Iran peace talks, although the two sides remained at odds on key issues.
Worrying for investors is the possibility of the Strait of Hormuz, a vital artery for the world’s energy supplies, being nearly closed, sending oil prices soaring and the global interest rate outlook again worsening on inflation concerns.
US Secretary of State Marco Rubio said there have been “some good signs” in talks to end the nearly three-month-old war in the Middle East, but differences remain over control of Tehran’s uranium reserves and waterways.
In stock markets, MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.3% higher, set for a modest weekly rise. Japan’s Nikkei gained 2%.
US stock futures rose 0.2% and European futures rose 0.8%.
May 22, 2026 7:25:06 am First
US-Iran war live: Australian shares rise on hopes of peace in West Asia
Australian shares extended their gains for a second consecutive session on Friday, with most sectors trading in positive territory, as hopes of progress on a potential US-Iran peace deal improved investor optimism.
The S&P/ASX 200 index rose 0.5% to 8,666.10 at 0028 GMT. The benchmark advanced 1.5% on Thursday.
It is on track to post a 0.2% weekly gain, capping a week marked by growth in West Asia and the domestic economy. Investors’ hopes were pinned on a possible ceasefire between the US and Iran.
US Secretary of State Marco Rubio said there have been “some good signs” in talks with Iran, although Tehran’s uranium stockpile and control over the Strait of Hormuz remain sticking points and uncertainty has increased.
May 22, 2026 7:22:22 am First
US-Iran war live: US blocks $14 billion Taiwan arms sale to preserve munitions stockpile for Iran conflict
The United States has halted a proposed $14 billion arms sale to Taiwan amid concerns over munitions requirements linked to its ongoing conflict with Iran, according to a report by The Hill.
Speaking during a Senate Appropriations Defense Subcommittee hearing on Thursday, Acting Navy Secretary Hung Kao said the purpose of the pause was to ensure the U.S. military maintains adequate reserves for “Operation Epic Fury.”
According to The Hill, Cao told Senator Mitch McConnell, “Right now we’re pausing to make sure we have the weapons we need for epic fury — which we have in abundance.” “We’re just making sure we have everything in place, but foreign military sales will continue when the administration deems it necessary.”
When McConnell asked whether the sale would ultimately move forward, Kao said the decision would be up to Secretary of War Pete Hegseth and Secretary of State Marco Rubio.
“Yeah, that’s really troubling,” McConnell replied.
Cao’s comments appear to differ from comments previously made by US President Donald Trump, who suggested that arms sales could be used as a ‘bargaining chip’ in negotiations with China.
As quoted by The Hill, Trump told Fox News, “I haven’t approved it yet. We’ll see what happens.” “I can do this; I can’t do that.”
May 22, 2026 7:18:22 am First
US-Iran war live: Iraq mobilizes search and rescue teams to monitor missing Gulf ships
The Iraqi News Agency (INA) reported that the General Company for Iraq’s ports has deployed its maritime control and search and rescue teams to track two missing Bolivian-flagged vessels, Bridge 1 and Bridge 2.
According to a company statement, security officials from several ports in the Gulf basin, along with the ship’s owners, contacted Iraqi authorities for any available information after communications with the ships were lost.
The state-owned company confirmed that no ships had entered Iraqi territorial waters, and that its maritime departments had not received any distress signal from any crew.
Although the port authority currently has no data on the ships’ location, it stressed that satellite tracking operations are continuing in close coordination with the regional search and rescue administration.
May 22, 2026 7:16:33 am First
US-Iran war live: Iran destroys US Reaper drones worth nearly $1 billion
US-Iran war live: Iran has reportedly destroyed more than two dozen MQ-9 Reaper drones operated by the US military since the war began on February 28, a significant loss worth about $1 billion, representing 20 percent of the Pentagon’s pre-war inventory, which is difficult to replace.
May 22, 2026 7:11:13 am First
US-Iran war LIVE: US says there will be no change in UN position on sanctions against Francesca Albanese
The US has denied that the rescinding of sanctions against Francesca Albanese, the UN Special Rapporteur for the occupied Palestinian territory, is a change in government policy.
On Thursday, the US State Department clarified that President Donald Trump’s administration removed Albanese from the sanctions list only because of the recent court ruling.
“The government has appealed the court order,” the State Department said in its statement, before confirming its intention to return Albanese to the list of Specially Designated Nationals (SDN) because of his work on Palestine.
